Export promotion strategy of The MMTC LTD

In the nineteenth century, there was a belief among the political parties, social groups and communities that the Government of a state should confine itself only to providing external security, maintaining internal law and order and delivering justice to its people. They were of the opinion that interference of the state in economic matters hampers the development of the personality of individuals. The outbreak of the Second World War reversed this way of thinking and gave a fillip to state participation in foreign trade. It was also realized that individuals or private sector organizations are usually not that equipped as it is required for handling foreign trade especially, in bulk buying and supply of goods which of course involves huge risk which private agencies cannot afford to undertake. In India, Government participates in the import and export business through its agencies like State Trading Corporation ltd. (STC) and Minerals and Metals Trading Corporation of India (MMTC) Ltd. The main emphasis of this book is to examine the role of MMTC in export business during the globalized regime and to see how far it has succeeded in achieving the assigned responsibilities.